Finance Act 2004 (c. 12)

SCHEDULES

SCHEDULE 36 U.K. Pension schemes etc: transitional provisions and savings

Yn ddilys o 22/07/2004

Part 4 U.K. Other provisions

Benefits taxable under Chapter 2 of Part 6 of ITEPA 2003: contributions taxed pre-commencement U.K.

55 (1) This paragraph has effect if paragraph 54 does not. U.K.

(2) Section 394 of ITEPA 2003 (charge on benefits from non-approved schemes) does not apply in relation to so much of the lump sum as does not exceed the sum, or the aggregate of the sums, referred to in paragraph 53(1)(b).

(3) And the reference in section 395 of that Act (general rules) to the amount of the lump sum is to the amount of the remainder of the lump sum.